Community Benefits

Community Benefits

Financial Benefits

The master-planned site will be a significant source of revenue for the City. CBRE Hotels, a leader in the field of real estate economics, estimated that when completed, One Beverly Hills will unlock the economic potential of these combined properties.

City of Beverly Hills Taxes & Fees:

$2.3 billion in total taxes and fees over 30 years

$1.2 billion in new taxes and fees over 30 years

  • $28.4 million/year in residential generated taxes and fees
  • $14.4 million/year in commercial generated taxes and fees

$19 million in construction-related fees, licenses and taxes

Spending in and around Beverly Hills:

$27.0 billion in total local spending over 30 years

$8.2 billion in new local spending over 30 years

  • $266 million in average annual spending in the community

Beverly Hills Schools:

$78.9 million in new property tax revenue to the school district over 30 years

$4.4 million in one-time impact fees

Jobs:

900 permanent jobs

1,500 construction jobs

Buy Beverly Hills:

$7.8 million in purchases from local merchants during construction

Civic Benefits

Botanical Gardens

Building a landscaped platform over Merv Griffin Way creates 8 acres of uninterrupted gardens with 2 miles of public and private pathways in a total of 10 acres of open space that is the heart of One Beverly Hills.

  • 4.5 acres of publicly accessible botanical and sculpture gardens, including 1 mile of pathways through the gardens with shaded seating areas, new vistas and tranquil water features

  • A diverse, community-based conservancy to oversee maintenance, education programming, and art installations for the Botanical Gardens

  • The Botanical Gardens will never be closed for hotel or One Beverly Hills private events

  • 2-hour free parking for visitors to the gardens

Traffic:

One Beverly Hills will improve traffic flow by:

  • Adding a lane to westbound Santa Monica Boulevard
  • Realigning Merv Griffin Way
  • Adding a traffic signal at Santa Monica Blvd & Merv Griffin Way

Affordable Housing

One Beverly Hills includes a significant contribution to the City’s affordable housing fund.